SF-based African fintech startup Chipper Cash expands to Nigeria

The San Francisco-based startup, with offices in Ghana and Kenya, will offer its P2P payment service and app in Africa’s most populous nation in partnership with Paystack — the payment gateway company. Paystack CEO Shola Akinlade confirmed the collaboration.

Chipper Cash will establish a company presence in Lagos and has hired a country manager, Abiodun Animashaun, co-founder of Lagos-based ride-hail startup Gokada.

Chipper Checkout will make its debut in Nigeria several months after Chipper Cash’s mobile-payments launch, according to Serunjogi.

The imperative to move to Nigeria was pretty straightforward. “Nigeria is the largest economy and most populous country in Africa. Its fintech industry is one of the most advanced in Africa, up there with Kenya and South Africa,” he said.

“I think for any company doing fintech across borders, that is looking to be successful in Africa, it’s imperative that you have a presence in Nigeria.”

For some fintech startups, such as Chipper Cash, locating in Nigeria is not just strategic for expanding in Africa, but also to serve international ambitions.

Chipper Cash was recently profiled in an Extra Crunch feature as one of three African fintech startups — with goals to scale globally — that has co-located in San Francisco with operations in Africa. The play is to tap the best of both worlds in VC, developers and the frontier of digital finance.

In addition to creating greater financial inclusion on the continent, African fintech products and solutions have also found traction internationally. Safaricom (M-Pesa), Flutterwave, Paystack, Paga, Mines and Chipper Cash are among companies that offer or plan to offer their products in regions such as Asia, Europe and Latin America.